Adobe Inc. (NASDAQ:ADBE) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC trimmed its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 33.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 471,407 shares of the software company's stock after selling 233,090 shares during the period. Janus Henderson Group PLC owned about 0.11% of Adobe worth $209,631,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ADBE. Decker Retirement Planning Inc. bought a new position in Adobe during the 4th quarter valued at about $31,000. Summit Securities Group LLC bought a new position in Adobe in the 4th quarter worth about $31,000. Caitlin John LLC grew its stake in Adobe by 171.4% in the 4th quarter. Caitlin John LLC now owns 76 shares of the software company's stock worth $34,000 after acquiring an additional 48 shares in the last quarter. Avion Wealth grew its stake in Adobe by 112.2% in the 4th quarter. Avion Wealth now owns 87 shares of the software company's stock worth $38,000 after acquiring an additional 46 shares in the last quarter. Finally, Mascoma Wealth Management LLC grew its stake in Adobe by 142.9% in the 4th quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company's stock worth $38,000 after acquiring an additional 50 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Adobe news, CFO Daniel Durn acquired 1,300 shares of the business's stock in a transaction dated Thursday, March 20th. The shares were purchased at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the purchase, the chief financial officer now directly owns 29,876 shares of the company's stock, valued at $11,668,968.08. The trade was a 4.55% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.16% of the company's stock.

Adobe Stock Performance

Shares of NASDAQ ADBE traded up $5.22 during midday trading on Thursday, reaching $404.69. The company had a trading volume of 2,761,601 shares, compared to its average volume of 3,430,332. The business's 50-day simple moving average is $376.62 and its 200 day simple moving average is $435.30. The stock has a market cap of $172.48 billion, a P/E ratio of 32.64, a P/E/G ratio of 2.15 and a beta of 1.55. Adobe Inc. has a 1 year low of $332.01 and a 1 year high of $587.75. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.97 by $0.11. The business had revenue of $5.71 billion during the quarter, compared to analysts' expectations of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same quarter last year, the company posted $4.48 earnings per share. On average, analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Mizuho dropped their target price on shares of Adobe from $620.00 to $575.00 and set an "outperform" rating on the stock in a research note on Thursday, March 13th. Morgan Stanley dropped their target price on shares of Adobe from $600.00 to $510.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Wells Fargo & Company dropped their target price on shares of Adobe from $600.00 to $430.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Piper Sandler dropped their price objective on shares of Adobe from $600.00 to $500.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Finally, Citigroup dropped their price objective on shares of Adobe from $551.00 to $490.00 and set a "neutral" rating on the stock in a research note on Monday, March 10th. Eleven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $502.88.

Adobe Profile

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.